Electromagnets in Philippines | The Observatory of Economic Complexity

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Exports In 2022, Philippines exported $582M in Electromagnets, making it the 4th largest exporter of Electromagnets in the world. At the same year, Electromagnets was the 26th most exported product in Philippines. The main destination of Electromagnets exports from Philippines are: Japan ($334M), South Korea ($64M), Germany ($54.5M), China ($42.3M), and Hong Kong ($22.8M).

The fastest growing export markets for Electromagnets of Philippines between 2021 and 2022 were Japan ($88.7M), South Korea ($23.7M), and Germany ($8.13M).

Imports In 2022, Philippines imported $610M in Electromagnets, becoming the 7th largest importer of Electromagnets in the world. At the same year, Electromagnets was the 54th most imported product in Philippines. Philippines imports Electromagnets primarily from: Japan ($309M), Vietnam ($202M), China ($57.3M), Singapore ($7.94M), and United Kingdom ($7.88M).

The fastest growing import markets in Electromagnets for Philippines between 2021 and 2022 were Vietnam ($68.3M), Japan ($36.9M), and Singapore ($3.43M).

COMPANIES In 2020, leading companies such as were at the forefront of shipping Electromagnets from Philippines to the United States.

Latest Trends

August 2021

About

Overview In August 2021 Philippines' Electromagnets exports accounted up to $28.3M and imports accounted up to $19.3M, resulting in a positive trade balance of $9.05M. Between August 2020 and August 2021 the exports of Philippines' Electromagnets have increased by $15.8M (126%) from $12.5M to $28.3M, while imports increased by $13.9M (261%) from $5.34M to $19.3M.

Destinations In August 2021, Electromagnets were exported mostly to Japan ($9.54M), China ($4.46M), South Korea ($4.42M), United States ($3.42M), and Hong Kong ($3.31M), and were imported mostly from Japan ($10.7M), China ($6.47M), Thailand ($864k), Hong Kong ($367k), and Malaysia ($311k).

Growth In August 2021, the increase in Electromagnets's year-by-year exports was explained primarily by an increase in exports to South Korea ($1.53M or 82.4%), United States ($1.39M or 75.5%), and Hong Kong ($916k or 47.1%). In August 2021, the increase in Electromagnets's year-by-year imports was explained primarily by an increase in imports from China ($1.26M or 48.9%), Japan ($481k or 8.18%), and Singapore ($188k or 1.17k%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (August 2020 - August 2021)$15.8M(126%)

IMPORT GROWTH (August 2020 - August 2021)$13.9M(261%)

MAIN DESTINATION (August 2021)Japan$9.54M

This section shows Electromagnets's exports and imports data at subnational level for Philippines. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electromagnets over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$582M

IMPORTS (2022)$610M

NET TRADE (2022)-$27.9M

In 2022, Philippines exported $582M in Electromagnets. The main destinations of Philippines exports on Electromagnets were Japan ($334M), South Korea ($64M), Germany ($54.5M), China ($42.3M), and Hong Kong ($22.8M).

In 2022, Philippines imported $610M in Electromagnets, mainly from Japan ($309M), Vietnam ($202M), China ($57.3M), Singapore ($7.94M), and United Kingdom ($7.88M).

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